|Day's Range||110.23 - 110.646|
|52 Week Range||104.6670 - 114.5110|
The U.S. dollar loses its strength in late Friday trading amid President Donald Trump’s signing of a spending bill that will avoid a renewed partial government shutdown and his declaration of a national emergency on border security.
The US dollar rallied again during the week, breaking towards the 61.8% Fibonacci retracement level. However, we are starting to run into a bit of resistance, which of course makes sense as the Japanese yen is a bit of a safety currency.
The British pound went back and forth during the Japanese yen during the trading week, as we continue to see a lot of noise out there. However, we have recently seen a massive turnaround, and I think it is going to be crucial to the future of this market.
The US dollar fell a bit during the trading session on Friday, as we continue to see a lot of resistance above at the 200 day EMA. At this point, the 61.8% Fibonacci retracement level has offered significant resistance as well, but as we go into the weekend it looks like we are trying to find some type of footing.
The British pound pulled back a bit against the Japanese yen during the trading session on Friday but found enough support to turn around of form a bit of a hammer early in the day. This is a good sign, and it looks as if the British pound is finding buyers to turn things back around again.
Investing.com – The dollar was modestly higher against its rivals Friday and remained on track to post consecutive weekly gains for the first time since November. The dollar's rise came as traders digested mostly negative U.S. economic data.
With the poor economic numbers from the US, the market is likely to favour a move to the upside and try moving towards the top of the consolidation phase to the 1.15 handle. The pair is now testing support at the 50% Fibonacci scale, and next major support is at the 1.27 level, which is the 61.8% Fibonacci retracement level. The market is likely to remain choppy and with poor economic numbers from the US, AUD is likely to gain a bit of momentum.
Theresa May’s troubles continue to pin back the Pound and the stats have provided little help. More swings on the cards later today.
The US dollar rolled over during trading on Thursday as poor economic numbers came out of the United States. Beyond that, we were at the 200 day EMA, which of course is something that you are paying attention to.
Investing.com - The U.S. dollar was roughly unchanged against its rivals Thursday as analysts downplayed data showing U.S. retail sales suffered their biggest drop since 2009.
The pair pulled back significantly during the Wednesday’s session, breaching the 1.13 level again to reach down towards the 1.1280 level. The pair is witnessing a lot of issues above the 1.13 level and until unless it breaks above 1.1350 level, the market will continue to struggle rallying higher. Going ahead, the pair will continue to consolidate, trading between 1.12 and 1.15 level. …Read MoreGBP/USD
Brexit and Trade talks are on the political agenda, while Germany’s GDP numbers and retail sales figures out of the U.S will be in focus on the data front.
Investing.com - The euro and the British pound fell to multi-week lows against the firmer U.S. dollar on Thursday as weak economic data out of the euro zone and concerns over Brexit weighed.
Investing.com - The Chinese yuan was little changed on Thursday in Asia after better-than-expected trade numbers for January, as analysts warned of the presence of business distortions due to national holidays and cyclical trends.
The primary market drivers of the rally in the USD/JPY will continue to be rising Treasury yields and increasing appetite for risky assets. The main catalyst will be optimism over U.S.-China trade negotiations.
The U.S. dollar inches higher against many of its rivals early Wednesday after a brief period of jerky trading, as market participants make sense of rumors surrounding Brexit, central bank updates and myriad economic data including inflation in the U.S.
The US dollar continues to rally during the day on Wednesday, testing a major moving average in the process. That being the case, I believe that we are starting to get a bit overdone at this point.
The British pound rallied a bit against the Japanese yen during the trading session on Wednesday, as we continue to see this market build what I believe is a significant technical pattern.
Investing.com – The dollar rose against a basket of major currencies Wednesday, shrugging mixed U.S. inflation data as the euro slipped on fresh signs of stuttering eurozone growth.
The Euro fell initially during Thursday’s session but found enough support underneath, to bounce higher and break above the 1.13 level. The market is witnessing a lot of attention around the 1.13 level and at this point, it is likely that the pair will continue trying to reach towards the top of the overall consolidation area which is as high as 1.15 level. If the pair turns around, then it could unwind towards the 1.12 level. …Read MoreGBP/USD
Will inflation numbers deliver a boost for the Pound or the Dollar, or will they ease pressure on the respective central banks to make a move?
U.S. government debt yields rose on Tuesday after federal lawmakers reached a deal to fund the government and avoid a repeat shutdown. The helped widen the spread between U.S. Government bond yields and Japanese Government bond yields, making the U.S. Dollar a more attractive investment.
Investing.com - The NZD/USD pair advanced on Wednesday in Asia after a Reserve Bank of New Zealand (RBNZ) decision earlier in the day.